News

  Dubai / Emirates Business Mashreq, one of the UAE’s leading financial institutions entered in to a strategic partnership with Zomato.com – a global social restaurant discovery service operating across 23 countries. The partnership strengthens Mashreq Flavours, the UAE’s largest dining program further, by enabling Mashreq credit or debit cardholders to enjoy a discount of 20% on any two food ...

  Abu Dhabi / Emirates Business Groundwork for the second edition of Mother of the Nation Festival commences on Sunday on Abu Dhabi Corniche ahead of the Festival’s official opening on March 26, the organising committee at Abu Dhabi Tourism and Culture Authority announced on Sunday. Preparations for the festival have commenced on-schedule as more than one kilometre of Abu ...

  Bloomberg US environmental chief Scott Pruitt unveiled plans to roll back at least three Obama-era rules at the EPA while vowing to give businesses “regulatory certainty.” Those policy reversals, set to start next week, will empower the Environmental Protection Agency to focus on its core mission of protecting the air and water, Pruitt said in a speech and question-and-answer ...

  Bloomberg Carlos Ghosn handed over the day-to-day running of Nissan Motor Co. to Hiroto Saikawa, who will take the mantle of president and chief executive officer while his long-time boss focuses on revamping struggling affiliate Mitsubishi Motors Corp. Ghosn, 62, will remain chairman of Nissan, a title he also holds at alliance partners Renault SA and Mitsubishi Motors. He’ll ...

  Bloomberg Santander Consumer USA Holdings Inc., one of the country’s biggest subprime auto lenders, has decided not to use GPS-tracking and ignition kill swi- tch technology as regulators clamp down on the devices, an executive said. Car lenders use the devices to help them find and repossess cars when borrowers default on loans, which is becoming increasingly common amid ...

  Bloomberg Aston Martin’s bet on a new $215,000 luxury coupe is paying off as surging demand for the DB11 has the carmaker projecting a revenue bump of as much as 37% this year ahead of a potential initial public offering. Orders for the DB11, which debuted a year ago at the Geneva motor show, paced a 48% jump to ...

  Bloomberg The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets. The highly-anticipated share sale has become emblematic of Saudi Arabia’s push to transform its economy and open its doors to more foreign capital. Whatever you think of the valuations involved — ...

  Bloomberg Another week, another record for US crude exports. Producers and traders shipped out 1.21 million barrels a day of US crude in the week that ended February 17, the most in Energy Information Administration data going back to 1993. Domestic output increased to 9 million barrels per day last week, the fastest pace since April, while US refiners ...

  Bloomberg China will allow more companies to list on its stock market to boost support for its economy, the nation’s top securities regulator said, dismissing concerns that more supplies of shares can depress the market. The capital market’s recovery from a 2015 rout has been stronger than expected and is now ready for “appropriately” larger supplies of initial public ...

  Bloomberg South Korean household income grew at the slowest pace on record last year and spending fell for the first time, underscoring the challenge facing policy makers as they try to ignite a sluggish economy. Households’ average monthly income increased 0.6 percent in 2016 from the previous year to 4.4 million won ($3,884), the smallest gain since the statistics ...